KAPELLEGOED: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KAPELLEGOED
Largest movements
- Tangible fixed assets +€313,019
up €313,019 (+9.0%), from €3.5m to €3.8m
of which Land and buildings: +€317,921
- Cash -€123,713
down €123,713 (-93.8%), from €131,925 to €8,212
mainly Investment in fixed assets (net) (-€488,922) and Debts after one year (-€170,226)
- Other debts +€237,783
up €237,783 (+1,021%), from €23,282 to €261,065
- Debts after one year -€170,226
down €170,226 (-13.0%), from €1.3m to €1.1m
- Profit (loss) carried forward +€117,907
up €117,907 (+49.4%), from €238,447 to €356,354
- Gross operating margin +€31,749
up €31,749 (+9.8%), from €324,760 to €356,509
- Depreciation +€23,485
up €23,485 (+15.4%), from €152,418 to €175,903
- Financial charges -€5,850
down €5,850 (-10.4%), from €56,066 to €50,217
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,624,842 | €3,810,203 | +€185,361 | +5.1% |
| Fixed assets | 21/28 | €3,466,943 | €3,779,962 | +€313,019 | +9.0% |
| Tangible fixed assets | 22/27 | €3,465,827 | €3,778,846 | +€313,019 | +9.0% |
| Land and buildings | 22 | €3,443,542 | €3,761,462 | +€317,921 | +9.2% |
| Furniture and vehicles | 24 | €22,285 | €17,384 | -€4,902 | -22.0% |
| Financial fixed assets | 28 | €1,116 | €1,116 | = | 0.0% |
| Current assets | 29/58 | €157,899 | €30,241 | -€127,658 | -80.8% |
| Amounts receivable within one year | 40/41 | €21,719 | €17,805 | -€3,914 | -18.0% |
| Trade receivables | 40 | €21,713 | €14,968 | -€6,746 | -31.1% |
| Other amounts receivable | 41 | €6 | €2,837 | +€2,832 | +49,766% |
| Cash at bank and in hand | 54/58 | €131,925 | €8,212 | -€123,713 | -93.8% |
| Deferred charges and accrued income | 490/1 | €4,255 | €4,224 | -€31 | -0.7% |
| Total equity and liabilities | 10/49 | €3,624,842 | €3,810,203 | +€185,361 | +5.1% |
| Equity | 10/15 | €2,092,922 | €2,217,329 | +€124,407 | +5.9% |
| Contributions | 10/11 | €1,158,920 | €1,158,920 | = | 0.0% |
| Capital | 10 | €1,158,920 | €1,158,920 | = | 0.0% |
| Issued capital | 100 | €1,158,920 | €1,158,920 | = | 0.0% |
| Revaluation surpluses | 12 | €682,055 | €682,055 | = | 0.0% |
| Reserves | 13 | €13,500 | €20,000 | +€6,500 | +48.1% |
| Non-distributable reserves | 130/1 | €13,500 | €20,000 | +€6,500 | +48.1% |
| Legal reserve | 130 | €13,500 | €20,000 | +€6,500 | +48.1% |
| Profit (loss) carried forward | 14 | €238,447 | €356,354 | +€117,907 | +49.4% |
| Amounts payable | 17/49 | €1,531,920 | €1,592,874 | +€60,954 | +4.0% |
| Amounts payable after more than one year | 17 | €1,311,812 | €1,141,586 | -€170,226 | -13.0% |
| Financial debts | 170/4 | €1,311,812 | €1,141,586 | -€170,226 | -13.0% |
| Amounts payable within one year | 42/48 | €204,409 | €451,288 | +€246,879 | +121% |
| Current portion of amounts payable after more than one year | 42 | €164,256 | €170,226 | +€5,970 | +3.6% |
| Trade debts | 44 | €2,978 | €4,904 | +€1,925 | +64.6% |
| Suppliers | 440/4 | €2,978 | €4,904 | +€1,925 | +64.6% |
| Taxes, remuneration and social security | 45 | €13,893 | €15,093 | +€1,200 | +8.6% |
| Taxes | 450/3 | €13,893 | €15,093 | +€1,200 | +8.6% |
| Other amounts payable | 47/48 | €23,282 | €261,065 | +€237,783 | +1,021% |
| Accrued charges and deferred income | 492/3 | €15,699 | €0 | -€15,699 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,418 | €175,903 | +€23,485 | +15.4% |
| Other operating charges | 640/8 | €5,833 | €6,047 | +€214 | +3.7% |
| Gross operating margin | 9900 | €324,760 | €356,509 | +€31,749 | +9.8% |
| Operating profit (loss) | 9901 | €166,509 | €174,559 | +€8,050 | +4.8% |
| Financial income | 75/76B | - | €64 | +€64 | |
| Recurring financial income | 75 | - | €64 | +€64 | |
| Financial charges | 65/66B | €56,066 | €50,217 | -€5,850 | -10.4% |
| Recurring financial charges | 65 | €56,066 | €50,217 | -€5,850 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €110,443 | €124,407 | +€13,964 | +12.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €110,443 | €124,407 | +€13,964 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €110,443 | €124,407 | +€13,964 | +12.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.